Futuristic Media and Entertainment (FMEL), a wholly owned subsidiary of Den Networks, has informed that it has, today, sold its entire equity stake in three subsidiaries as given below to Infomedia and Networking (INPL) for an aggregate consideration of Rs 30/- (Rupees Thirty only):
- 50.99% equity stake (i.e. 25,496 equity shares) in Den Fateh Marketing;
- 56.88% equity stake (i.e. 41,388 equity shares) in Den Budaun Cable Network(Den Budaun); and
- 51.00% equity stake (i.e. 45,896 equity shares) in Mahadev Den Cable Network
Consequently, the aforesaid companies have ceased to be subsidiaries of the Company, effective today.
The aforesaid companies are non-operating companies and their turnover for the FY2024-25 was Nil. Den Budaun had networth of Rs 5.75 Lakh as on March 31, 2025 contributing 0.0016% to the consolidated networth of the Company and other two companies had negative networth as on March 31, 2025.
INPL is a company incorporated under the Companies Act, 1956, engaged in the business of Cable and Broadband and does not belong to Promoter / Promoter Group / group companies of the Company.